Senate Dems Press CFPB’s Vought to Explain Record Deletions
- Four Senate Democrats are demanding that Consumer Financial Protection Bureau Acting Director Russell Vought explain why the bureau scrubbed roughly 15 years of public content from its website, escalating a fight that touches directly on the records used by companies across the credit and collection industry to track their regulator.
- More details here
No Guardrails: A Federal Report on the Cost of Deploying AI Without Oversight
- A new federal watchdog report offers a timely warning for operations racing to adopt generative AI: deploying powerful chat tools without classifying their risk or building oversight around them can create exactly the kind of exposure regulators look for.
- More details here
Collector Settles With Conn. Regulator, Will Offer Refunds Over Interest Collection
- A collection agency has agreed to pay a $10,000 civil penalty and refund Connecticut consumers that were charged interest without authorization under a consent order with the state’s Banking Commissioner.
- More details here
Appeals Court Affirms Arbitration in FCRA Suit Over Charged-Off Card
- The Court of Appeals for the Third Circuit has affirmed an order compelling arbitration of a consumer’s Fair Credit Reporting Act lawsuit, holding that her claim fell within the broad reach of an arbitration clause in her credit card agreement.
- More details here
Calif. Appeals Court Rejects Consumer’s Bid to ‘Accept’ Her Way Out of Loans
- A California appeals court has affirmed the dismissal of a consumer’s lawsuit that tried to erase three loan balances through a self-created “administrative process” built on the Uniform Commercial Code.
- More details here
Judge Denies Motion to Strike Debt Buyer’s Defenses in FDCPA Suit
- A consumer’s Fair Debt Collection Practices Act lawsuit will move forward with all seven of the defendant’s affirmative defenses intact after a District Court judge in Florida declined to strike any of them.
- More details here
34 Companies Seeking Collection Talent
- The AccountsRecovery job listings summary has more than 30 new openings this week, spanning agencies, banks, fintechs, and collection law firms. Featured listings include an In-House Counsel role at Collection Bureau Services (Missoula), a Collections Team Leader at InvestiNet (Greenville), and a remote Regional Sales Executive at Credit Management Company, with additional openings across entry-level, management, legal, and technology roles.
- More details here
WORTH NOTING: New York City has released new compliance resources for its debt collection rule … More Americans are warming up to the idea of buying a house … A state-by-state look at how much it costs to give birth … How much screen time infants have may influence how much they learn and their memory later in life … A bunch of techies share advice on how to thrive in the hybrid AI-human office of today … A number of kitchen gadgets that make adulting feel easier … The deadly rise of giant trucks and SUVs across the United States … A happiness expert shares tips on how to design the perfect summer.
Wisdom Wednesday, part I
Wisdom Wednesday, part II
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